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Online Asset Protection Quiz.

If a home has a homestead exemption of more than $146,450; won't this exemption still apply if you don't file bankruptcy within 40 months?

Yes. However, a judgment creditor can often force a debtor into involuntary bankruptcy within the 40 months to limit the homestead exemption to $146,450. This would then expose any additional equity. That's why you must take other steps to shelter the exposed equity from this contingency and cannot always rely on homestead protection.

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The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050
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